(CA) Assembly passes bill to forbid nonjudicial home foreclosures

[question everything]

ASSOCIATED PRESS

May 28, 2004

SACRAMENTO – California's 36,000 homeowner associations would lose one of their toughest remedies for overdue assessment payments if an Assembly bill to ban nonjudicial foreclosures becomes law.

The Assembly yesterday voted 64-6 to end what is called nonjudicial foreclosure, a practice that has cost some residents their homes for late payment of fees as small as $120. The bill by Assemblyman Darrell Steinberg, D-Sacramento, requires that judges oversee home foreclosures in the private world of homeowner associations, much as they do in traditional housing.

Now the bill goes to the Senate, which voted without opposition last week to ban both nonjudicial and judicial foreclosures for amounts under $2,500.

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Find this article at:
http://www.signonsandiego.com/uniontrib/20040528/news_1b28homeown.html

[Senior citizen]

1. The foreclosure scam

First they tout how anyone can afford the American dream.

Then they offer financing plans to people who are working for minimum wage or on welfare. No problem--one agency loans or grants you the downpayment, another does whatever other costs are involved, all you have to do is pay the low, low mortgage, which is less than your current rent.

Of course if the heater breaks, or some other mishap occurs, which calls for a major expenditure, you're going to miss a payment or a fee, and sooner or later they can foreclose and do it all over again with some other poor sucker.